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New Council at Ukraine’s Securities Watchdog to Draft Crypto Taxation Regulations
21.11.2022
A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the applicable legislation. Advisory Board to Take...
Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto
13.11.2022
The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will be submitted to parliament by the end of the year....
Brussels Set to Begin Talks on EU Crypto Tax, Report Reveals
12.11.2022
The European Commission is preparing to discuss with member states the adoption of a common tax regime for crypto assets, European officials have indicated. The talks with national treasuries are expected to start next year with the aim to end the differentiated tax treatment of cryptocurrencies...
Bank of Russia Suggests Tax Cuts for Long-Term Digital Asset Holders
9.11.2022
The Central Bank of Russia is proposing to introduce tax incentives for long-term holders of digital financial assets. The idea has been circulated with a consultation paper published for public discussions on the development of the digital asset market in the Russian Federation. Bank of Russia...
Russia's Central Bank report examines crypto's place in the financial system
8.11.2022
Russia's Central Bank has released a report on digital assets which looks at how the technology could be integrated into its traditional financial system
Russia Plans to Allow Mining of Any Cryptocurrency, Lawmaker Unveils
2.11.2022
Newly proposed legislation aims to permit the minting of any cryptocurrency in Russia, a prominent lawmaker has revealed. While the draft law states that the circulation of the minted coins should take place outside Russian jurisdiction, an upcoming bill provides for their use under “experimental...
India’s Tax Authority Asks Crypto Exchanges for Details of Coins Traded on Their Platforms
1.11.2022
India’s tax authority has reportedly asked major cryptocurrency exchanges in the country to provide information pertaining to the coins traded on their platforms. The tax authority is also evaluating the taxability of crypto transactions to determine if the goods and services tax (GST) can...
Aussie federal budget reaffirms BTC won’t be treated as foreign currency
27.10.2022
The new federal budget states that Bitcoin will fall under the “current tax treatment of digital currencies, including the capital gains tax treatment, where they are held as an investment.”
Before ETH drops further, set some money aside for surprise taxes
20.10.2022
Ethereum's Merge resulted in a Proof-of-Work airdrop. That means you could be on the hook for tokens you didn't even want
Draft Law Seeks to Oblige Kazakhstan’s Crypto Miners to Exchange Bulk of Income in Country
13.10.2022
Cryptocurrency miners in Kazakhstan are to be required to convert up to three quarters of their income on locally registered exchanges, according to a new bill that’s advancing in the nation’s legislature. Lawmakers also want to make sure crypto companies pay their taxes and fees. Parliament...
Portugal Prepares to Tax Crypto Gains at Rate of 28%, Draft Budget Unveils
11.10.2022
Authorities in Portugal intend to impose a levy on gains from short-term crypto investments with the state budget for next year. The document, which still needs the approval of Portuguese lawmakers, signals a change in the EU nation’s positive attitude towards crypto assets. Government...
Norway Prepares to Reverse Electricity Tax Cut for Cryptocurrency Miners
8.10.2022
The Norwegian government is reviewing a proposal to abolish the policy of preferential tax treatment for data centers mining cryptocurrency with cheaper electricity. The executive power in Oslo says conditions have changed and the country needs the energy currently used by miners. Mining Firms...
European Lawmakers Urge for Crypto Taxation, Use of Blockchain to Fight Evasion
7.10.2022
Members of the European Parliament have called for “effective taxation” of crypto assets and “better use of blockchain” to counteract tax evasion. A resolution aiming to achieve both objectives has been approved by a large majority which also wants small crypto traders...
Colorado is accepting crypto for tax payments — it could be a mess or a shining example
7.10.2022
Colorado is now accepting crypto for tax payments — but if you choose to use that option, it could change the amount you owe
Get ready for a swarm of incompetence at the IRS in 2023
22.9.2022
The IRS is hiring 87,000 agents, thanks to President Joe Biden’s 2021 infrastructure package, but they won’t be fully trained for three years
Belarus Issues International Arrest Warrant for Owner of Country’s ‘Largest Crypto Exchanger’
11.8.2022
Law enforcement officials in Minsk are seeking international assistance to locate and detain the man who ran what is said to be the biggest online exchanger for cryptocurrencies in Belarus. The crypto trader has been accused of tax evasion and an investigation against three of his accomplices...
Tax Agency Vows to Go Hard After Koreans Using Crypto to Evade Levies
3.8.2022
South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been...
Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700
30.7.2022
New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will...
Latvian Artist Threatened With Prison for Money Laundering Through NFTs
26.7.2022
An artist from Latvia is under investigation for allegedly selling NFTs, or non-fungible tokens, to launder money, for which he may get up to 12 years in prison. The authorities have blocked his bank accounts and launched an investigation without even notifying him. Artist Who Sold Over 3,500 NFTs...
Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners
13.7.2022
President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin....